Economy

Ghost Dog

(16,881 posts)

68. UK risk watchdog set to ease bank buffers

Fri Jun 22, 2012, 11:41 AM

Jun 2012

LONDON, June 22 (Reuters) - The Bank of England's risk watchdog looks set to allow lenders next week to free up billions of pounds from their cash buffers and help haul the economy out of recession.

The Financial Policy Committee (FPC) meets on Friday and publishes recommendations for regulatory action on June 29. Some members have dropped heavy hints on what to expect as part of a wider UK effort to get more credit flowing into companies.

The FPC, chaired by BoE Governor Mervyn King, is tasked with spotting broad risks such as asset bubbles that could destabilise the financial system. It plugs a pre-crisis supervisory gap and advises on action regulators should take.

King said last week "the need for banks to hold large liquid asset buffers is much diminished, and I hope regulators around the world will take note".

/... http://in.reuters.com/article/2012/06/22/boe-fpc-idINL5E8HLA1520120622

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